All India Bank Officers Confederation demands grant of Stagnation Increment and Pension option for voluntary retirees and resigned officers.

Gen Secy. Mr Nadaf has written two letters to IBA demanding the same. Following are the text of the letters.

Letters relation stagnation increment.

No./1452/185/10                                                             09.06.2010

To,

The Chairman,

The Indian Banks’ Association,

World Trade Centre Complex,

Centre 1, 6^th Floor, Cuffe Parade,

MUMBAI – 400 005.

Dear Sir,

SANCTION OF STAGNATION INCREMENTS

The extant instructions on grant of stagnation increment(s) are:

a)     Stagnation increment(s) cannot be granted to those who are reverted to previous grade/scale.

b)     Similarly, stagnation increment(s) cannot be granted to those who refuse to accept promotion to next scale/grade, after selection.

2.       We are receiving number of representations from our affiliates that, officers who remain absent in the process of selection for promotion are also denied stagnation increments, which is against the extant instructions.  In case of workmen employee, who is eligible for promotion on the basis of eligibility criteria fixed by the Bank but who does not apply for such promotion would be entitled for stagnation increments. Further, where an employee who has been called for written test and/or interview will also be entitled for stagnation increments.  However, where an offer is made by the Bank for promotion and the employee refused such promotion, he would not be entitled to such increments after such refusal.

3.       We, therefore request you to issue necessary clarifications on grant of stagnation increments, that only in case of those who refuse to accept the promotion after selection or seek reversion on promotion be denied of stagnation increment but not merely for not participating in the process for promotion.

4.       Please treat the matter as urgent.

With greetings,

                                                                                   Yours faithfully,

                                                                                    

                                                                            

                                                                                       (G.D.NADAF)

GENERAL SECRETARY

Letter relating Pension option for voluntary retirement/resignation.

CIRCULAR NO:91                                                         9^th JUNE, 2010

TO ALL AFFILIATES/MEMBERS:

PENSION OPTION
MEMBERS QUITTING UNDER VOLUNTARY RETIREMENT/RESIGNATION ETC.,

          One of the issues that has been taken up by the Confederation with the IBA is to provide an opportunity to all those who left the service under resignation/voluntary retirement other than the special scheme introduced by the Bank, the benefit of the Pension Scheme, since the Pension regulations do not include these category of officers.  We have therefore sent an appropriate communication to IBA seeking relaxations in the Pension Regulations to include all such cases which come under the minimum qualifying service for Pension eligibility under the scheme.  The IBA is yet to respond.  We need to follow-up the issue together so that a large number of employees who left the banks’ services by way of resignation but have completed the minimum years of pensionable service for the purpose of Pension, as in the case of the Pension optees.

2.       We are now given to understand that some of the CPF Optees are putting in their papers for voluntary retirement without being conscious of the implications of such acts on their part although they have completed the minimum qualifying service under the Pension Regulations.  All such members are requested to await the implementation of the 2^nd Option on Pension Scheme, the process of which involves, issuance of the Notification, acceptance of the offer and completion of the formalities of transfer of Provident Fund balance accumulated in their accounts as per the understandings before venturing to submit their papers presumably under the impression that they would be eligible to Pension benefit in the normal course.

3.       This communication is meant to alert all such members who are not aware of the extant provisions and may be submitting their papers under the impression that Pension will be automatically extended to them once the 2^nd Option on Pension Notification is issued, since they were on the rolls of the banks on the date of signing the settlement.  It is better to await until the formalities are completed rather to take the risk of getting into technical wrangles at a later date.

4.       All our affiliates are requested to keep their members properly informed to avoid difficulties to all such members at a later date.

With greetings,

                                                                                     

                                                                                                                                                                                                          (G.D.NADAF)

GENERAL SECRETARY